S-REITs - Week 33 - 2024

( YTD: +2.43% | 5D: +1.44%)

13 Aug - 1H 2024 Results

• CapitaLand Integrated Commercial Trust (CICT) announced a distributable income of S$366.5 million for the six months ended 30 June 2024 (1H 2024). This is a 3.7% year-on-year (y-o-y) increase compared to the S$353.2 million for 1H 2023. 
  
  
• CICT’s 1H 2024 distribution per unit (DPU) rose 2.5% to 5.43 cents.
  
  
• 1H 2024 gross revenue grew 2.2% y-o-y to S$792.0 million due to higher gross rental income, partially offset by the absence of income from Gallileo which has been undergoing an asset enhancement initiative (AEI) since February 2024.
  
  
• Net property income for 1H 2024 rose 5.4% y-o-y to S$582.4 million, mainly due to lower utility expenses and savings from property management reimbursements under the new property management agreement1 .

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( YTD: -3.77% | 5D: +6.25%)

13 Aug - Extension Of Hak Guna Bangunan ("HGB") Titles For Imperial Aryaduta Hotel And Country Club

• Extended two of the HGB titles for Imperial Aryaduta Hotel and Country Club covering the land area of 848 sqm and 10,134 sqm respectively for another twenty (20) years to 12 May 2046.

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( YTD: -25.29% | 5D: +2.36%)

15 Aug - Proposed Issue Of S$180,000,000 4.30% Subordinated Perpetual Securities Pursuant To The S$3,000,000,000 Euro Medium Term Securities Programme

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( YTD: -6.98% | 5D: +6.19%)

12-16 Aug - Continue Share Buy-back

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( YTD: -9.92% | 5D: +1.72%)

12 Aug - Half Yearly Results

• DHLT added two high quality properties to its growing portfolio, including one in Vietnam, its first property outside of Japan
  
  
• Underlying performance of portfolio remained stable as net property income in JPY terms for 1H FY2024 improved by 2.8% y-o-y

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( YTD: -16.51% | 5D: +7.69%)

13 Aug - Half Yearly 2024 1H 2012141H 2024

• US$550 million new credit facilities, with fully extended maturity in 2027
  
  
• Divested One Town Center; reduced gearing, increased liquidity and debt headroom
  
  
• Lease signings more than doubled in 1H2024 YoY; from 131.2k sf in 1H2023 to 268.6k sf in 1H2024

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( YTD: +1.69% | 5D: +3.45%)

15 Aug - Completion Of The Divestment Of The Rail Mall And A Special Distribution Of 1.85 Cents Per Unit

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( YTD: -13.86% | 5D: +2.35%)

14 Aug - 1H 2024 Result

• Grocery & Necessity Properties’ committed occupancy increased to 96.3%
  
  
• Strong tenant retention rate of 92% coupled with a long WALE of 7.7 years
  
  
• Strong leasing momentum continues into 1H 2024, with 9.1% of the portfolio, representing 349,090 sq ft of new and renewal leases signed
  
  
• Minimal lease rollover with only 1.0% expiring in 2024
  
  
• Signed a new 10-year lease at Hudson Valley Plaza with DICK’S Sporting Goods, a Fortune 500 Company, one of the largest sporting goods retailers in the U.S.
  
  
• Divestment of Freestanding Lowe’s and Freestanding Sam’s Club properties above valuation within Hudson Valley Plaza, New York o Aggregate leverage lower to 39.0% from 41.7%
  
  
• Adjusted interest coverage ratio improves to 3.2 times from 2.9 times
  
  
• Self-Storage occupancy edged up to 94.3%
  
  
• No refinancing requirements until November 2026

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